July 5, 2022 – Business Observer

July 5, 2022

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages TrueBlue, Inc. Investors to Inquire About Securities Class Action Investigation – TBI

NEW YORK, July 05, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of TrueBlue, Inc. (NYSE: TBI) resulting from allegations that TrueBlue may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased TrueBlue securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=7019 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On June 15, 2022, during trading hours, TrueBlue issued a press release “announc[ing] … that Patrick Beharelle has resigned as Chief Executive Officer and as a member of the Board of Directors of TrueBlue, effective June 14, 2022.” The Company stated that “Mr. Beharelle’s resignation follows an investigation, led by outside counsel, into allegations regarding his conduct. Based on the investigation’s findings, the Board of Directors determined that he had engaged in behaviors that violated TrueBlue’s policies and Code of Conduct. Mr. Beharelle’s conduct in question was not related to financial controls, financial statements, or business performance.”

On this news, TrueBlue’s stock price fell $1.06 per share, or 5%, to close at $18.55 per share on June 15, 2022.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

July 5, 2022

APYX SHAREHOLDER ALERT: ROSEN, A TOP RANKED LAW FIRM, Encourages Apyx Medical Corporation Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – APYX

NEW YORK, July 05, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Apyx Medical Corporation (NASDAQ: APYX) between May 12, 2021 and March 11, 2022, both dates inclusive (the “Class Period”), of the important August 5, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Apyx securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Apyx class action, go to https://rosenlegal.com/submit-form/?case_id=6835 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) a significant number of Apyx’s Advanced Energy products were used for off-label indications; (2) such off-label uses led to an increase in the number of medical device reports filed by Apyx reporting serious adverse events; (3) as a result, Apyx was reasonably likely to incur regulatory scrutiny; (4) as a result of the foregoing, Apyx’s financial results would be adversely impacted; and (5) as a result of the foregoing, defendants’ positive statements about Apyx’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Apyx class action, go to https://rosenlegal.com/submit-form/?case_id=6835 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

July 5, 2022

PM Shehbaz Approves Rs. 7.91 per Unit Hike in Electricity Prices

Prime Minister Shehbaz Sharif has approved a hike in the base national power tariff by Rs. 7.9 per unit. According to an official document, the prices will be increased in three separate phases.

In the first phase, the increase will be Rs. 3.5 per unit, starting from 1 July 2022. In the second phase, the increase will be Rs. 3.5 per unit from 1 August, whereas the third phase will start from 1 October with an increase of Rs. 0.91 per unit.

The summary regarding the increase in prices was submitted by the Ministry of Energy on an urgent basis, and the ministry sought approval from the Federal Cabinet in its recent meeting.

However, the Cabinet did not consider the summary, which made the PM come into action for the approval.

Officials from the Ministry of Energy said that if the PM had not approved the summary, the National Electric Power Regulatory Authority (NEPRA) would have increased the prices automatically. In addition, approval from the PM was also necessary for the resumption of the International Monetary Fund (IMF) program.

Source: Pro Pakistan

July 5, 2022

FTO Recommends FBR to Penalize Pak Suzuki Against Late Delivery of Cars

The Federal Tax Ombudsman (FTO) has recommended that the Federal Board of Revenue (FBR) direct Pak Suzuki Motor Company (PSMC) pay KIBOR plus 3 percent per annum against late delivery of cars exceeding 60 days of initial booking.

According to the details, a customer filed a complaint against the Regional Tax Office (RTO) and PSMC. The complainant alleged that he took delivery of his car by PSMC through its authorized dealer after a delay of more than five and a half months against the permissible period of 60 days.

During the delay period, the rates of Sales Tax & Federal Excise Duty were enhanced by the government to 17 percent and 2.5 percent respectively, on vehicles exceeding an engine capacity of 850cc.

The complainant was charged as per new rates by the company following the tax rate hikes. FTO stated that the excess amount should be refunded to the plaintiff and action should be taken against PSMC for its tactics.

During the hearing, the complainant, the associate representative from PSMC stated that the provisional booking order, issued to the complainant by Suzuki Islamabad Motors, includes a customer declaration on behalf of the complainant which reads:

I hereby declare that I have read and understood all terms and conditions contained on reverse side of this provisional booking form and accept the same in total without any reservation and undertake to abide by the same and amendment thereby.

The Complainant stated that he had suffered a lot of mental and financial hardship on account of extra financial burden due to delayed delivery, for which, the automaker is responsible.

Source: Pro Pakistan

July 5, 2022

World’s Largest Battery Maker to Launch New Battery With 1,000 KM Range

CATL — the world’s largest electric vehicle (EV) battery maker — will start producing a new electric-car battery with over 620 miles (approximately 1,000 kilometers) of driving range. Dubbed Qilin, the new battery will enter production in 2023.

The battery maker claims that Qilin is 50 percent more efficient than normal lithium-ion batteries. For perspective, the longest-range EV currently available is the $169,000 Lucid Air, which can travel just over 830 kilometers per charge.

As per CATL, Qilin battery packs benefit from their unique design as they can pack a lot more energy compared to other batteries. It highlighted that the Qilin has a 255 watt-hour energy density per kilogram and that it will be 13% more powerful than Tesla’s latest battery design.

CATL also stated that its new battery will have the capability to charge 10% to 80% within 10 minutes, which will make it the fastest charging battery in the market. However, these are just hypothetical details as right now, the battery is still in its development stages.

According to Bloomberg, two Chinese auto companies — Hozon and Li Auto — have already expressed interest in using Qilin battery packs in their cars. Speculations also suggest that US-based EV makers are interested in using these batteries in their cars, but are waiting to make a move.

Source: Pro Pakistan

July 5, 2022

PM Shehbaz Approves Decrease in Federal Excise Duty on Air Tickets

Prime Minister Shehbaz Sharif has approved the reversal of the biggest taxation measure on the wealthy class by slashing the Federal Excise Duty (FED) of Rs. 50,000 to Rs. 30,000 imposed on Club, Business &amp; First class international air tickets in the federal budget 2022-23.

It has been learnt from reliable sources that the federal cabinet has given approval to the summary of the Revenue Division to decrease the FED on international air travel by Rs. 20,000. The decrease in the FED on the elite class negates the claim made by Finance Minister Miftah Ismail that the budget has targeted the rich and elite class.

The FBR will issue the relevant notification in the coming days to slash the FED on international air travel. The FED on air tickets was increased from Rs. 10,000 to Rs. 50,000 in budget 2022-23 after approval of the parliament.

The FBR recently clarified that the enhanced rate of the Federal Excise Duty (FED) of Rs. 50,000 would not be applicable on Club, Business &amp; First class international air tickets issued before July 1, 2022.

FBR stated that Federal Excise Duty is chargeable on Club, Business &amp; First class international air tickets under Section 3 of the Federal Excise Act, 2005. Furthermore, sub-rule (8) of rule 41A stipulates that FED is chargeable at the time of issuance of air tickets. Thus, the enhanced rate of FED on air tickets under the new finance bill 2022 will be chargeable only on international tickets (Club, Business &amp; First class) issued on and after 1st July 2022.

Source: Pro Pakistan